A 209-year-old clothing brand that has counted Grace Kelly and the late Queen among its fans has been sold to the owner of Moss Bros. Pringle of Scotland, a specialist in cashmere sweaters that has held a warrant to supply the Royal household since 1956, was owned by Kenneth Fang, the late Hong Kong textiles billionaire, who died in 2022, and his family since the turn of the millennium. However, accounts filed at Companies House show the Fang family has cut ties with the brand, selling it to Menoshi Shina, the owner of Crew Clothing and Moss Bros.
The sale to Mr Shina’s company Broadgate 1960 took place in 2023 but was not publicised at the time, bringing an end to more than two decades of ownership by the Fang family, whose late patriarch was known as the “king of textiles”. It comes as latest accounts for Pringle showed sales and profits plunged last year. Pringle’s revenues dropped by 34pc to £2.
7m during the 11 months to February 2024, while pre-tax profits more than halved to £327,000 compared to 2023 overall. The accounting period was shortened following the sale. Founded by Robert Pringle in 1815, Pringle is one of the UK’s oldest continually operating fashion companies, and is known for its signature argyle-patterned sweaters.
Its garments were a favourite of Elizabeth II, who is said to have received one of its pieces every year since 1947 before her coronation. Its advocates over the years have also included Grace Kelly and, more recently, Tilda Swinton,.
